Economist and climate change advisor Professor Ross Garnaut has delivered a withering critique of Australia’s economic policies and investment. The cost of misguided over-investment in the recent mining boom may already exceed what would have been the cost to the middle of the century of timely implementation of Australia’s share of a global mitigation effort directed at holding temperature increase to two degrees. Australia has over-invested in mining infrastructure and projects on the mistaken presumption that other countries would take no action on climate, or on curbing the use of fossil fuels.